Bulls may have reigned supreme over Techland today, with the

Nasdaq breaking a

new resistance level at 2250. Nevertheless, the scene changed in tonight's extended session, as after-the-bell news knocked certain tech outfits into negative territory.

Tonight's volume was healthy, with many stocks in the telecom and chip sectors taking it on the chin.

Redback Networks

(RBAK)

was mired in red after the San Jose, Calif., company said its president and chief executive officer Vivek Ragavan had resigned to pursue other activities. Shares of the company, which like other telecom equipment makers has been hit squarely by a tech spending crunch, lately fell 5.8% to $17.90 on

Instinet

down from a close of $19.00 in regular trading on the Comp. On

Island

ECN, they lost 5.3% to $18.00.

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Redback's rival, tech bellwether

Cisco

(CSCO) - Get Report

, was dragged lower by 0.2% to $22.82 on Instinet and 0.1% to $22.85 on Island, despite its stellar gain of about 13% to $22.87 in regular trading. The networker was one of the most heavily traded stocks in today's tech rally. Fellow high-speed router

Juniper Networks

(JNPR) - Get Report

nevertheless managed to climb 0.1% to $56.60 on Island.

Profit worries also came back to haunt investors, with shares of

Chartered Semiconductor Manufacturing

(CHRT)

, a chip maker that's majority-owned by the Singapore government, falling after the company slashed its second-quarter revenue and earnings guidance, citing the mantra of weaker-than-expected economic conditions. The shares lately lost 2.7% to $31.85 on Instinet. Chip leader

Intel

(INTC) - Get Report

was lately off 0.3% to $29.80 on Island, and dipped 0.2% to $29.84 on Instinet.

Also making the late news wires was

Echostar Communications

(DISH) - Get Report

, the number-two U.S. direct broadcast satellite company, which tumbled 6.8% to $34.10 on Instinet after the company said it plans to sell $1 billion of convertible notes, which can be converted into EchoStar common shares, in order to raise money,

Reuters

reported.

Indeed, investors tonight seem tired of bullishness.

Dell Computer

(DELL) - Get Report

, which posted its first-quarter earnings last week, was trading in the red tonight. Investors were also selling off big-tech names like

Oracle

(ORCL) - Get Report

.

But gaining ground was media neworker

iBeam Broadcasting

(IBEM)

, which signed a partnership with online ad firm

DoubleClick

(DCLK)

to provide streaming advertising to high-speed music and news sites, as well as online radio stations. Shares of iBeam, which are dragging below $1, lately rose 11.1% to $0.40 as the most heavily traded stock on Island.

And high fives for

Palm

(PALM)

, which kept its upward momentum, recently gaining 0.3% to $5.96 on Instinet and up 0.8% to $5.99 on Island.

UBS Warburg

upgraded the company to strong buy earlier today.

Among other notable tech gains tonight,

ASM Lithography

(ASML) - Get Report

, a Dutch semiconductor equipment maker, traded up 0.3% to $27.20, while

Microsoft

(MSFT) - Get Report

climbed 0.2% to $68.95 on Instinet, after closing at $68.70 on the Comp.

Island ECN offers trading mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EST.

Confused?

TheStreet.com

explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.